Accountancy
ICAI exposure draft on accounting standards
THE Accounting Standards Board of the Institute of Chartered Accountants of India (ICAI) has issued an exposure draft of the proposed accounting standard on `Accounting for investments in associates in consolidated financial statements'.
Advertising & Marketing
Sony wins hands down on ad rates
DOORDARSHAN may have the highest reach, Star may have the most popular shows, Sun may be the king in the South, but Sony charges the highest advertising rates for 10-second spots.
Agriculture
After Bt cotton... Monsanto to plant soyabean
AFTER obtaining approval for conducting large-scale field trials of its controversial Bt or `Bollgard' cotton, Monsanto is now seeking to introduce its equally high-profile `Roundup-resistant' transgenic soyabean into the country.
Banking and Finance
Y.V. Reddy panel to review rates on small savings
THE Finance Ministry has appointed Dr Y.V. Reddy, Deputy Governor of the Reserve Bank of India (RBI), to head a 10-member expert panel to review the existing system of administered interest rates on small savings schemes including public provident funds
(PPFs) and contractual savings schemes.
Corporate
Dunlop Ambattur workers want wage dues cleared first
THE workers' union at Dunlop's Ambattur factory has decided not to go along with any proposal to recommence operations without arrears of wages being cleared first.
Monisha Shah is BBC India Director
MS Monisha Shah, BBC Worldwide's Territory Manager of South Asia, has been appointed Director of BBC Worldwide India Pvt Ltd.
Economy
Formation of new CoPU announced
THE Lok Sabha Speaker, Mr G.M.C. Balayogi, has announced the formation of the Committee on Public Undertakings (CoPU) for the term beginning on May 1, 2001 to April 30, 2002.
Exports overshoot target; notch 20 pc growth
THE country's exports in the fiscal year 2000-01 (April to March) logged a 20 per cent growth in dollar terms, overshooting the target of 18 per cent at $44.1 billion, against $36.8 billion in the previous fiscal.
12 Bills passed in Budget session
OUT of the 20 Bills introduced during the Budget Session of Parliament, 12 were passed. Besides, four Bills that were sent to Parliament could not be introduced following consecutive disruption of the proceedings of the Houses.
Foreign Trade
Call for more trade with Mauritius
THE Minister for Heavy Industry and Public Enterprises (MoHIPE), Mr Manohar Joshi, has called for increased bilateral cooperation between India and Mauritius.
Insurance
Storm brews over Tata Tea cover
UNITED India Insurance Co Ltd has moved the Tariff Advisory Committee (TAC) against Tata-AIG General Insurance Co Ltd for underquoting premium rates while capturing the insurance coverage business of Tata Tea Ltd.
Mutual Funds
SBI Mutual declares 0.4 pc
SBI Mutual Fund (SBIMF) has declared its first monthly dividend of 0.4 per cent (Re 0.04 per unit) for April, under its recently-launched open-end Magnum monthly income plan (MIP). The record date is fixed at April 30 and all investments made up to that
date will be eligible for dividend.
PSU
Balco case: SC move on leased lands
THE Supreme Court has indicated that notices may have to be issued to all private companies and non-tribals to whom land in scheduled areas stands leased/allotted.
Bidding for stakes in PSUs -- Bar on cos with `moral turpitude' offences likely
THE Department of Disinvestment (DoD) is likely to bar companies that have committed offences of `moral turpitude' nature from bidding for acquiring Government stakes in public sector undertakings (PSUs) lined up for divestment.
Accumulated losses in 87 PSUs touch Rs 37,970 cr
EVEN as the Government is dithering over the disinvestment of equity in public sector companies with targeted receipts from this route remaining unfulfilled, the equity investment in 87 companies of the Government has been completely eroded by their accu
mulated losses.
Petroleum
CII urges level field for suppliers to ONGC, OIL
THE Confederation of Indian Industry (CII) has said that in order to be fair to domestic manufacturers and to maintain a level playing field between foreign and domestic bidders catering to ONGC and OIL, the Customs notification of March 1, 2001 extendin
g benefits of nil customs duty for import of specified products under TEC/MIL issued or renewed after April 1, 1999 to ONGC and OIL should be rescinded.
Policy
Call for building code to withstand quakes
IMPLEMENTATION of national building code and building bye-laws in all the high-rise structures of four stories and above is a must if one were to avoid earthquake disasters like those experienced in Latur and recently in Gujarat.
Rubber
Dumping duty period on NBR extended
THE Finance Ministry has extended the imposition of anti-dumping duty on Acrylonitrile Butadiene Rubber (NBR) imports from Japan by another six months.
Shipping
Fire breaks out on ship at Vizag port
A FIRE broke out on board a vessel, Supreme Flyer, that was berthed to discharge a consignment of caustic soda for Nalco on Tuesday morning.
States
It's just another day...
A woman worker of a contractor of the Municipal Corporation of Hyderabad carrying a load on Tuesday which was observed as May Day.
Over 50% of Gujarat quake claims settled
THE four nationalised general insurance companies were able to settle more than 50 per cent of the claims worth Rs 60 crore of the earthquake victims of Gujarat by the end of March.
Devanahalli airport bidders submit feasibility reports
THE two consortia in the race for the Devanahalli international airport have submitted their detailed feasibility reports.
Bengal may not extend loan to Dunlop against assets
THE West Bengal Government is reluctant to sanction any loan to the company against hypothecation of `unencumbered' properties in the city.
NEDFi sanctions Rs 12.92 cr for IT projects
THE North Eastern Development Finance Corporation (NEDFi) has sanctioned Rs 12.92 crore for various projects in the North-East.
FCI asked to produce parboiled rice
HYDERABAD: The State Government has asked the Food Corporation of India (FCI) to instruct the latter's district managers to accept parboiled rice as per the existing specifications.
SPDCL plans more `consumer adalats'
HYDERABAD: The Tirupati-based Southern Power Distribution Company of Andhra Pradesh Ltd (SPDCL) has stated that it has collected an additional revenue of Rs 91 crore last fiscal by holding `Consumer Adalats' to settle the electricity consumers grievance
s regarding over billing power charges.
NTPC to supply additional 10 MW to Pondy
HYDERABAD: The National Thermal Power Corporation (NTPC) will be supplying an additional 10 MW power to Pondicherry from its eastern region power stations.
Stocks
Securities tribunal upholds order on sacking UPSE chief
IN a ruling that could have a bearing on the Anand Rathi case, the Securities Appellate Tribunal (SAT) has upheld a SEBI order sacking the President of the Uttar Pradesh Stock Exchange (UPSE), Mr R.K. Agarwal.
Technology
BITS-Pilani plans to upgrade Dubai campus
BITS-Pilani, one of India's premier technology and science institutes, plans to make its Dubai campus an international centre of excellence, according to Dr S. Venkateswaran, Director and Vice Chancellor of BITS-Pilani.
Telecommunications
The cellular flock rises despite WLL controversy
THE limited mobility controversy seems to have hardly had any detrimental effect on the cellular mobile service providers, with the total subscriber base in the country growing by close to 40 per cent over the past six months.
Issue pre-paid cards to low-end users: TRAI
IN what should be good news for the low-user cellular subscribers, the Telecom Regulatory Authority of India (TRAI) has directed that the service providers should offer pre-paid cards for amounts of Rs 300 or less, with a validity period of at least one
month.
Textiles
Indian textile companies slow in patenting
MULTINATIONAL textile giants from Switzerland, Germany and the US have grabbed 85 per cent or 497 out of the 588 patents granted by the Indian Patent Offices during 1995-2000.
Travel & Places
Tourism summit to explore options
IN an effort to promote India as an international tourist destination and also highlight the investment opportunities which exist in the tourism sector, the Confederation of Indian Industry (CII) will hold the second three-day `India: Tourism and heritag
e' conference here from October 18.
